MCBC Member Guest Post - by Louis Wellmeier Support MCBC Through Donor Advised Funds
MCBC member and volunteer Louis Wellmeier outlines all there is to know about donor-advised funds (DAF) and how you can support MCBC through a DAF.
A Donor-Advised Fund (DAF) is a charitable vehicle that allows donors to make an irrevocable contribution to a fund and receive an immediate tax deduction. The assets within the DAF can be invested and grow tax-free, and donors can request that the fund distribute grants to IRS-approved non-profit organizations like MCBC.
Why Choose a DAF?
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Immediate Tax Benefits: Donors receive an immediate tax deduction upon contributing to their DAF. Additionally, DAFs allow donors to avoid capital gains taxes on appreciated assets and remove these assets from their taxable estate.
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Flexibility in Giving: Rather than making a single lump sum donation, DAFs offer the flexibility to distribute grants to non-profits over time. Donors maintain control over the timing and amount of these distributions, allowing them to assess the impact of their contributions.
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Growth Potential: Contributions to a DAF can be invested, allowing the funds to grow tax-free and potentially increasing the value of charitable gifts over time.
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Legacy Planning: Donors can appoint future generations to continue making grants to non-profits or name their DAF as a beneficiary to an investment account or their estate, ensuring their support continues beyond their lifetime.
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Increased Impact: Donors avoid capital gains taxes by transferring appreciated assets directly into a DAF, allowing their charitable contributions to have a greater impact.
Learn More About DAFs
MCBC will soon offer an in-depth presentation on DAFs to interested members and donors. In the meantime, please contact Liz Bernstein if you’d like to explore how DAFs or other charitable giving strategies can benefit and support MCBC.
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